Baku, Azerbaijan, Feb. 16
By Maksim Tsurkov – Trend:
Seventeen oil producing and three water injection wells were drilled at the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in 2017, says a BP Azerbaijan report for 2017.
The report says that as of January 1, 2018, 115 oil wells were producing, while 54 wells were used for gas and water injection.
As many as 29 million tons of Azeri Light oil were produced in Azerbaijan in 2017 as compared to 31.1 million tons of oil produced in 2016.
A contract for development of the ACG block of oil and gas fields was signed in 1994. A ceremony to sign a new contract on the ACG development was held in Baku Sept. 14, 2017.
The new ACG participating interests are as follows: BP - 30.37 percent; AzACG (SOCAR) - 25 percent; Chevron - 9.57 percent; INPEX - 9.31 percent; Statoil - 7.27 percent; ExxonMobil - 6.79 percent; TP - 5.73 percent; ITOCHU - 3.65 percent; ONGC Videsh Limited (OVL) - 2.31 percent.
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